Research

At B. Riley, our research process is an interactive one where we perform extensive due diligence on companies until the analyst develops the knowledge base and understanding of the company and the industry to make a recommendation. Our analysts continuously monitor industry developments and communicate with the management, competitors, suppliers and customers of the companies we follow, regularly communicating our findings through Research Updates and daily Morning Notes.

While we do not necessarily publish research on all of the companies we review, the knowledge base and understanding of many of our monitored companies parallels that of our covered companies. We actively cover over 100 companies and monitor an additional 100. Our analysts cover small to mid-cap companies that are under-followed or misunderstood by Wall Street. We believe that the pricing of small cap equities is frequently inefficient, and therefore provides the greatest potential rewards to diligent security analysis.

This Week's Research

  • 03/29/17 Initiation of Coverage SANW ($4.50, Buy; $9.00 PT): Seeking Alfalfa; Initiating Coverage with a Buy Rating and $9.00 PT
  • 03/28/17 Morning Note B. Riley AM Note: AUXO, FC, FNJN, MPAA, NCMI, RDI
  • 03/28/17 Update AUXO ($4.99, Buy; $7.75 PT): AUXO Reports 4Q16 Beat; ’17 Seems Poised to Benefit From the CynergisTek Acquisition & a Robust Pipeline; Maintaining…
  • 03/28/17 Update FC ($16.15, Buy; $24.50 PT): Q2 ’17 Earnings Preview; Reiterate Buy Rating and $24.50 Price Target
  • 03/27/17 Update B. Riley & Co. Discontinuing Coverage: BHE
  • 03/27/17 Update B. Riley & Co. Discontinuing Coverage: IEC
  • 03/27/17 Update B. Riley & Co. Discontinuing Coverage: FLEX
  • 03/27/17 Morning Note B. Riley AM Note: FINL, LGF.A, MCHP, NVDA, ON, SLAB, SMTC; EMS (BELFB, BHE, CLS, CTS, FLEX, IEC, JBL, KTCC, KE, PLXS, SANM, SPA), Exhibitors (AMC,…
  • 03/27/17 Update B. Riley & Co. Discontinuing Coverage: SANM
  • 03/27/17 Update B. Riley & Co. Discontinuing Coverage: PLXS
  • 03/27/17 Update B. Riley & Co. Discontinuing Coverage: CTS
  • 03/27/17 Update B. Riley & Co. Discontinuing Coverage: SPA
  • 03/27/17 Update B. Riley & Co. Discontinuing Coverage: BELFB
  • 03/27/17 Update B. Riley & Co. Discontinuing Coverage: KTCC
  • 03/27/17 Update B. Riley & Co. Discontinuing Coverage: CLS
  • 03/27/17 Update B. Riley & Co. Discontinuing Coverage: KE
  • 03/27/17 Update B. Riley & Co. Discontinuing Coverage: JBL
  • 03/27/17 Update Industry Update: Optical Components - OFC Review, Incrementally Positive on IPHI and LITE on Significant Competitive Lead
  • 03/27/17 Update FINL ($12.93, Neutral; $15.00 PT): Substantial 4Q17 EPS Miss on Delayed Tax Refunds; FY18 Guidance also Revised Lower, and Growth Appears Weighted…
  • 03/24/17 Morning Note B. Riley AM Note: ACLS, AMAT, AMC, CYTX, FORM, HDSN, LRCX, OXM, SCVL, STMP, SUP (upgrade), TNDM (downgrade)
  • 03/24/17 Update CYTX ($1.64, Buy; $6.75 PT): 4Q16 Results Compare Favorably to RILY Estimates, Management Highlights Numerous Catalysts & Diversified Business; Maintaining…
  • 03/24/17 Update OXM ($48.80, Buy; $66.00 PT): Charge to Improve Profitability of TB & Higher Tax Rate Belie Overall Respectable Fundamentals; Trading at 6x on Our…
  • 03/24/17 Update AMC ($30.20, Buy; $47.50 PT): SF Investor Day Highlights; Increasingly Confident in Above-Consensus Estimates and Attractive Set-Up for Industry Outperformance…
  • 03/24/17 Update SUP ($25.60, Buy; $31.00 PT): Transformative Acquisition Paves 3yr Path to a Stock Double; Raising 12-Month Price Target to $31, Upgrading to Buy
  • 03/24/17 Update TNDM ($1.25, Neutral; $1.50 PT): Downgrading from Buy to Neutral based on a Weakening Balance Sheet – Reducing Price Target from $5.00 to $1.50.
  • 03/24/17 Update SCVL ($24.81, Neutral; $26.00 PT): 4Q16 EPS Down Substantially from a Year Ago, but Better than the Company’s Updated Guidance; FY17 Outlook Below…
  • 03/23/17 Initiation of Coverage DHX.B ($5.42, Buy; $7.75 PT): Leading Independent Kids’ Content Play Nearing Accelerated FCF Growth; Valuation Does Not Reflect Monetization Opportunity;…
  • 03/23/17 Update EVLV ($1.27, Buy; $2.00 PT): Focus on Product Mix and Contribution Margins Drives Upside Q4 EBITDA and Solid 2017 Guide; Attractive Entry Point Ahead…
  • 03/23/17 Update BV ($4.10, Buy; $5.75 PT): Takeaways from Recent Investor Meetings; Reiterate Buy Rating and $5.75 Price Target
  • 03/23/17 Morning Note B. Riley AM Note: AOSL, AVGO, BV, DHXB (initiation), EVLV, GDDY, INTC, KTOS, MRVL, SWKS; Internet (ABTL, TRUE)
  • 03/22/17 Morning Note B. Riley AM Note: ABTL, AUXO, AVGO, KW (discontinuation), LOV, NKE, OXM, SWKS, UEIC (resuming coverage)
  • 03/22/17 Update NKE ($58.01, Neutral; $56.00 PT): 3Q17 Earnings Beat on Expense Management; New “Triple Double” Strategy introduced; Futures Continue to Decline…
  • 03/22/17 Update LOV ($1.00, Neutral; $1.20 PT): Q4 ’16 Revenue and EBITDA Beats but Subscribers Below Expectations; Leaner Cost Structure and New Technology Should…
  • 03/22/17 Update AUXO ($4.45, Buy; $7.75 PT): 4Q16 Preview: Expect AUXO to End ’16 Strong & Anticipate Additional Color on the Acquisition of CynergisTek; Maintaining…
  • 03/22/17 Update ABTL ($12.38, Buy; $20.00 PT): Meetings Reinforce Confidence in Momentum at Clicks and Opportunity in Used; Conservative Guidance Amidst Backdrop…
  • 03/22/17 Update KW ($21.27, Buy; $29.00 PT): Discontinuing Coverage; Refreshing Estimates; Lowering PT from $30.00 to $29.00
  • 03/22/17 Update UEIC ($66.80, Buy; $77.25 PT): Resuming Coverage; Refreshing (Raising) Estimates; Raising PT from $73.50 to $77.25